Abiomed To Sell 2.4 Million Shares of Common Stock

Luke Timmerman8/19/08

Abiomed, the Danvers, MA-based maker of devices to treat heart failure, said today it is offering 2.4 million shares of common stock. Morgan Stanley is the sole underwriter for the offering, which is being made through a shelf registration statement that became effective in Oct. 2006. Abiomed (NASDAQ: ABMD) has 33.7 million shares outstanding. The stock fell 3.7 percent to $18.20 at 12:18 pm Eastern time on the news of the increasing supply of shares.

Luke Timmerman is the National Biotech Editor of Xconomy, and the Editor of Xconomy Seattle. E-mail him at ltimmerman@xconomy.com or follow him on Twitter at twitter.com/ldtimmerman.